question 60
Multiple Choice
Rammazzotti, Inc., is looking for feedback on company performance. The company compares the budget for the year with the actual costs. Data have been collected below: Rammazzotti Inc., had the following budgeted data: Unit sales for 2018 Unit production for 201826,00026,000
Budgeted fixed overhead for 2018 : Supervision Depreciation Rent $8002,000100
Budgeted variable costs per unit: Direct materials Direct labor Supplies Indirect labor Power $0.150.200.020.050.02
The following actually occurred:
Actual unit sales for 2018 Actual unit production for 201824,00028,000
Actual fixed overhead for 2018 : Supervision Depreciation Rent $8502,000100
Actual variable costs: Direct materials Direct labor Supplies Indirect labor Power $3,5004,9005301,250470
The total budgeted costs for 2018 were
Comprehend the impact of changes in income on economic behavior and market participation.
Distinguish between the primary and secondary jobs market, and their characteristics.
Understand the concept of economic rent and its calculation in different scenarios.
Assess the role of real wages, the minimum wage, and productivity in influencing economic outcomes.
Definitions:
Bilingual Advantage
The cognitive benefits experienced by individuals proficient in two languages, including better attention and task-switching capacities.
Inhibit
To restrain or hinder an action or process.
Intelligence Test
A standardized test designed to measure a person's intellectual capabilities or intelligence quotient (IQ).
Linguistic Determinism
The theory that language determines thought, and that linguistic categories limit and determine cognitive categories.